Start the conversation
Herbalife Ltd. (NYSE: HLF) stock was up more than 4.3% on news the FBI and federal prosecutors are investigating activist investor Bill Ackman and a number of his associates over possible manipulation of the company's stock. For several years, Ackman has charged Herbalife of operating a pyramid scheme, with several investor presentations specifically targeting the firm's marketing programs. At issue is whether Ackman intentionally made false statements to affect HLF shares. In addition, Ackman has very publicly shorted the company's stock. During an interview with CNBC Wednesday, Ackman said that he hasn't discussed the case with any public agency.